Sony Price-Cut Coming?

In spite of many rumors of a price reduction since the launch of the PlayStation 3, Sony has been adamant that they are not cutting the $600 price-tag of their console.

"At present we have no plans," to cut the PS3 price, Ryoji Chubachi told Reuters in an interview.

Chubachi also said that Sony was on track to hit its target of a 5 percent operating margin for the year to March 2008.

So there you have it: No price cut. Pay up, Sony fan.

UPDATE: This story keeps going back and forth. Yesterday, it seemed that the price cut might actually be a sale of some kind from a specific retailer, but today, a merchandising manager (who wished to remain anonymous) at one of the world's biggest retailers has confirmed to GameDaily BIZ that the price drop is indeed retail-wide and it's scheduled to take place on July 12.

We feel confident in predicting the price of the PS3 will drop by $100. We've been wrong many, many times before, however.